Standard & Poors Rating agency said it is affirming Nigeria’s sovereign affirmed at ‘B/B’; outlook stable. The rating agency said Nigeria’s stable outlook signals assessment that oil sector improvements will support higher economic growth, fiscal revenues, among other things. Nigeria’s stable outlook signals assessment that oil sector improvements will also […]
There seems to be a slow down in the crash of Nigeria’s consumer prices. August inflation from the National Bureau of Statistics, NBS remained unchanged. The NBS said August inflation Slightly fell to 16.01% compared to 16.05% disclosed in July. As a sign that the fall in inflation has further […]
Africa’s largest economy, Nigeria has once again diversified its borrowing options by issuing a NGN100 billion Sukuk for local investors. According to a memo issued by the debt service office, the Sukuk bond will be used to fund road infrastructure. The bond will carry a seven-year tenor with a yield […]
In the next two months, Nigeria said it will sell NGN917.14 billion worth of treasury bills, a means of borrowing from the domestic market. The bills are expected to be issued between Sept. 14 and Nov. 30, 2017. The disclosure is contained in the schedule of the Central Bank of Nigeria […]
Nigeria Police said it will float Nigeria Police TV, a public media venture to be managed under the Nigeria Police Broadcasting Service. The chief executive of the NPBS, Mr. Ediri Jerry Wesley said Nigeria Police TV will start operations through a fund-raising ceremony to be held at the International Conference […]
Africa’s largest economy bedeviled by power problems said it has awarded the construction of Mambilla hydroelectric plant to China Civil Engineering Construction Corporation, CCECC. The 3,050 megawatt plant has been in the works but not executed for over 30 years. According to the federal minister of works, Babatunde Raji Fashola […]
The Nigerian National Petroleum Corporation (NNPC) has increased daily average natural gas supply to the nation’s gas power plants by 123 per cent to 730 million standard cubic feet per day (mmscf/d). The Corporation, in its June 2017 Monthly Financial and Operations Report released today, said the gas supply was […]
A Federal High Court sitting in Lagos has failed to deliver judgment in the NGN300m Fundamental Rights Enforcement Suit filed by a suspected kidnapper, Evans whose real name is Chukwudumeme Onwuamadike, against the Nigerian Police Force. The presiding judge, Justice Abdulaziz Anka has adjourned the case till September 5, 2017 […]
Africa’s largest economy is seeing another gradual reduction in prices as its July inflation is reported to have crashed further to 16.05%. According to the National Bureau of Statistics, NBS Consumer Price Index (CPI) which measures inflation increased by 16.05% (year-on-year) in July 2017. It is a slower fall but at […]
After his return from the United Kingdom on health grounds, Nigeria’s President Muhammadu Buhari said he was pleased with the way the economy has improved. The President in a meeting which laster over an hour received briefing from the Minister of Budget and National Planning, Senator Udoma Udo Udoma, the […]